Team Garner's Blog
In some instances, it may be beneficial to reject an offer to purchase your home. Because if a homebuying proposal fails to meet your expectations, you may want to wait for another offer to come your way.
Reviewing a homebuying proposal and determining whether to reject this offer can be tricky. But we're here to help you evaluate an offer to purchase so you can decide the best course of action and feel confident about your choice.
Now, let's take a look at three tips to help you assess an offer to purchase and determine whether to decline.
1. Review the Local Housing Market
The housing market in your city or town is a major factor in the property selling journey. If you're selling your residence in a buyer's market, you likely face steep competition to sell your house and maximize its value. Comparatively, if you're operating in a seller's market, there may be an abundance of buyers and a shortage of sellers in place.
Take a look at the prices of recently sold residences and how long these properties were listed before they sold. You may want to consider the prices of currently available houses in your area that are similar to your residence too. With this housing market data in hand, you can differentiate a buyer's market from a seller's one and take a data-driven approach to decide how to proceed with an offer to purchase.
2. Weigh Your Home's Strengths and Weaknesses
You believe your home is great, but you also realize that your residence is far from perfect. As such, it often helps to weigh your residence's strengths and weaknesses relative to an offer to purchase and proceed accordingly.
For example, if a homebuyer submits a competitive offer to purchase your home in spite of its exterior damage, you may want to accept this proposal. On the other hand, if a buyer submits a "lowball" offer on your recently upgraded house, you may want to decline this proposal.
3. Consult with a Real Estate Agent
If you're unsure about whether to reject an offer to purchase, there is no need to worry. You can always hire a real estate agent, and this housing market professional can provide comprehensive support throughout the property selling journey.
A real estate agent is ready to help you in any way possible. If you need help listing your residence and promoting it to prospective buyers, a real estate agent can assist you. Or, if you want to find innovative ways to enhance your residence's curb appeal, a real estate agent can provide home exterior upgrade recommendations.
Of course, a real estate agent will work with you to review any offer to purchase your house. You and your real estate agent together can discuss the pros and cons of a homebuying proposal and make a decision that corresponds to your house selling goals.
Take the guesswork out of reviewing an offer to purchase – use the aforementioned tips, and you can decide whether rejecting a homebuying proposal is the best option.
Curb appeal, the illusive secret weapon that enamors potential buyers from afar and draws them into your home. There have been several attempts to nail down the “secret formula” for curb appeal.
In reality, the best approach to improving your home’s presentation from outside is to take the time to consider what fits.
In this post, we’ll give you some budget ideas to help you find the curb appeal boosters that will match with your home.
1. Fresh paint
One well-known curb appeal strategy is to repaint some of the notable components of the outside of your home. The places that have to most impact?
Front door - a front door that pops, but that also fits with the style of your home and complements its main color will make your home stand out from the neighbors.
Shutters - repainting your shutters is another inexpensive area to add some color to your home. However, be wary of choosing bright colors for your shutters if they’re going to clash with or disrupt the overall style of your home.
Mailbox - a neglected, dented, and a dirty mailbox is a huge turn off for potential buyers. Buying a new one, or adding a fresh coat of paint to your old one that matches one of the highlight colors of your home, can be a great way to add a sense of continuity to the exterior of your house.
2. Sparse decorations
Just like the inside of your home, less is often more when it comes to decoration. There are a number of things to add to your yard that will improve its overall presentation. But, just be sure that it doesn’t appear out of place or tacky. A single, small, and brightly colored bird house in a tree is usually a safe bet.
3. Simple landscaping
There’s no need to hire contractors for elaborate landscaping or to purchase expensive plants and shrubbery. A well-manicured yard is enough to make your home stand out. And, remember that potential buyers will most likely be looking for a home that is low-maintenance. A simple lawn and walkway say just that.
Also be sure to trim and prune your current trees, bushes, and flowerbeds. You might find that a cleanup is all they needed to be impressive once more.
4. Pressure washing
Most of us grow accustomed to how our home looks and might not notice the accumulation of dirt on the siding. By hiring or renting a pressure washer for a day, you’ll be able to update a number of aspects of curb appeal. From siding and decks to walkways and driveways, you can cover a lot of square footage with a pressure washer.
One note on pressure washers: the better ones can be dangerous. That means hiring a professional could help get the best results for your money. Also, while you can buy a pressure washer, you might find that for the amount you use it, it’s easier just to hire or rent every few years.
Adding a quality home to the real estate market offers no guarantees. And if you fail to set a competitive initial asking price for your residence, your home may linger on the housing market for many weeks or months. Fortunately, we're here to teach you about the real estate sector and ensure you can use your home's initial asking price to differentiate your residence from the competition.
Now, let's take a look at three tips to help you establish the right price for your house prior to listing your residence.
1. Analyze the Housing Market
The housing market is tough to navigate, particularly for a seller who wants to separate his or her residence from the crowd. Thankfully, an informed home seller can review housing market data and use this information to establish a price range for his or her house.
A home seller who assesses the real estate sector can differentiate a buyer's market from a seller's one. This seller will collect and analyze housing market data related to the prices of recently sold residences and how long these houses were listed before they sold. Then, this seller can determine whether he or she is preparing to enter a buyer's or seller's market.
2. Conduct a Home Inspection and Appraisal
Although a home inspection usually is requested by a buyer after a seller accepts an offer to purchase, it may be beneficial for a seller to conduct an inspection before listing a home. An inspection enables a seller to identify problem areas in a residence. As a result, a seller can use an inspection report to prioritize home improvement projects, complete home repairs and boost the value of his or her house.
A home appraisal also may prove to be exceedingly valuable to a seller. In fact, an appraisal provides a seller with a property valuation that he or she can use to establish a competitive initial home asking price.
3. Hire a Real Estate Agent
There is no telling how homebuyers will respond to a new house that becomes available. Lucky for you, a real estate agent can help you plan ahead to list your house and ensure you can establish a competitive price for your home from day one of the property selling journey.
A real estate agent is an expert resource that you can leverage when you sell your house. He or she can help you review housing market data from a variety of sources. Furthermore, a real estate agent can put you in touch with the top home inspectors and appraisers. Perhaps best of all, a real estate agent takes the guesswork out of pricing a house and will help you set an initial home asking price that matches buyers' expectations.
When it comes to selling your house and maximizing its value, there is no need to work alone. If you hire a real estate agent today, you can get the help you need to showcase your residence to prospective buyers and boost the likelihood of a profitable home sale.
As a home seller, it is important to do everything possible to generate interest in your residence. That way, it won't take long to start receiving offers to purchase after you list your home.
There are many signs that homebuyers may soon submit offers to purchase your residence, and these signs include:
1. Buyers are setting up home showings.
Even a single home showing is a positive sign for a home seller. And if you find that buyers are submitting regular requests to view your residence, it may be only a matter of time before you receive many offers to purchase your house.
Typically, it helps to be flexible when you sell your house. If you make it simple for buyers to view your house at their convenience, you may increase the likelihood that the right buyer will check out your home and submit an offer to buy it.
2. The same buyers have viewed your house multiple times.
An interested homebuyer may request to view your house more than once. In this instance, you may receive an offer to purchase from this buyer sooner rather than later.
As always, it pays to accommodate as many home showing requests as possible. If you make it easy for a buyer to view your residence multiple times, you can help him or her make an informed decision about whether to submit an offer to purchase your home.
3. Buyers have lots of questions about your house.
A home showing gives property buyers an opportunity to check out your house in-person. It also may lead these buyers to reach out to you for additional information about your home.
Remember, you should be ready to provide homebuyers with as much information as you can about your residence. If you offer homebuyers the information they request, you can help them determine whether your house is the right choice based on their individual needs.
For home sellers who want to go above and beyond the call of duty to stir up interest in a house, it may be beneficial to hire a real estate agent. In fact, a real estate agent will help a seller navigate the property selling journey and achieve the optimal results.
First, a real estate agent will meet with a house seller and set the stage for a successful property selling experience. He or she will offer insights into the local housing market and help a seller establish a competitive price for a residence. Then, a real estate agent will schedule house showings and open house events. And if a seller receives an offer to purchase, a real estate agent can recommend whether this individual should accept, decline or counter the proposal.
Want to streamline the house selling journey? Work with a real estate agent – you'll be happy you did. If you employ a real estate agent, you can get the help you need to showcase your residence to potential buyers and maximize your house sale earnings.
When it comes to selling a house, it is important to prepare as much as you can. That way, you can identify potential home selling hurdles and overcome these issues before they escalate.
Now, let's take a look at three tips to help you prep for the house selling journey.
1. Analyze All Areas of Your Home
You might believe your home is virtually perfect, but there may be problems that need to be addressed. Because if you fail to resolve various house issues, it may be tough to optimize your home sale earnings.
Oftentimes, it helps to conduct a home inspection before you list a residence. With an inspection report in hand, you can assess home flaws and correct these issues right away.
You may want to perform a home appraisal as well. After an appraisal, you can obtain an appraisal report to help you establish a competitive initial asking price for your residence.
2. Review the Local Housing Sector
The housing market fluctuates, and a buyer's market today could shift into sellers' favor without delay. Thus, you should analyze the local housing sector closely so you can determine whether you are about to enter a buyer's or seller's market.
A buyer's market generally features a high volume of available houses. Comparatively, there is a shortage of available homes in a seller's market, and new houses that become available may sell quickly.
To differentiate between a buyer's and seller's market, you should find out how long homes that are currently available in your city or town have been listed. In addition, review the prices of recently sold houses in your area, and you can see if sellers are accepting offers at or above their initial asking prices.
3. Consult with a Real Estate Agent
If you are unsure about how to plan for the home selling journey, you need to remember that you are not alone. But if you hire a real estate agent, you can work with a property selling expert throughout the home selling journey.
A real estate agent understands how to succeed in any housing market, at any time. First, he or she will learn about you and your home and help you map out a house selling plan. A real estate agent next will help you establish an aggressive initial asking price for your residence and add your home to the local housing market. Then, if you receive an offer to purchase your home, a real estate agent will help you assess this proposal and make an informed home selling decision.
Furthermore, a real estate agent is ready to respond to your house selling questions. There is no home selling question too big or too small for a real estate agent, and as such, you can rely on this professional for in-depth responses to any property selling queries.
Take the guesswork out of selling a home – use the aforementioned tips, and you can plan ahead for the house selling journey.